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&#39Public has more savvy than Sandler thinks&#39 – Fidelity

Fidelity Investments bel-ieves that in a climate of stockmarket uncertainty, Ron Sandler&#39s recommendations aimed at improving the savings habits of UK investors could prove counterproductive.

The fund manager challenges Sandler&#39s assumption that active investment management cannot add value in a liquid and well-researched market and points out that consumers have more savvy than Sandler assumes.

Managing director Richard Wastcoat says: “This Government has consistently sought to undermine the active fund management industry for political ends. The industry has, while delivering consistently higher average ret-urns than index trackers over the past five years, successfully reduced its costs and charges through efficiency and by harnessing the power of the internet. It has put more power and knowledge into the hands of investors than ever before.”

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Simple solution welcomed – IMA

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